SUNNYVALE, Calif., Dec. 04, 2024 (GLOBE NEWSWIRE) -- News Summary   Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced its Security Service Edge (SSE) offering, FortiSASE, received a “AAA” rating from CyberRatings.org, the industry’s only independent third-party cybersecurity testing nonprofit. “SSE is growing in importance as more organizations embrace Unified SASE to protect all devices, edges, and users within their hybrid networ ...

Core Viewpoint - Investors are increasingly seeking growth stocks that demonstrate above-average growth potential, with Fortinet (FTNT) being highlighted as a strong candidate due to its favorable growth metrics and Zacks Rank [2][12]. Earnings Growth - Fortinet has a historical EPS growth rate of 42%, with projected EPS growth of 33.6% for the current year, surpassing the industry average of 30.1% [5][4]. Cash Flow Growth - The company exhibits a year-over-year cash flow growth of 34.6%, significantly higher than the industry average of -14.4% [6]. Over the past 3-5 years, Fortinet's annualized cash flow growth rate has been 34.5%, compared to the industry average of 15.2% [7]. Earnings Estimate Revisions - There has been a positive trend in earnings estimate revisions for Fortinet, with the Zacks Consensus Estimate for the current year increasing by 7.8% over the past month [9][10]. This trend supports the stock's Zacks Rank of 1 (Strong Buy) [10].

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Fortinet (FTNT) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.Fortinet is a member of our Computer and Technology group, which includes 619 different companies and currently sits at #2 in the Zacks Sector Rank. The Z ...

Fortinet, Inc. (NASDAQ:FTNT) Needham Security, Networking, & Communications Conference November 19, 2024 9:30 AM ET Company Participants Keith Jensen - CFO John Whittle - COO Christiane Ohlgart - Chief Accounting Officer Conference Call Participants Matt Dezort - Needham Matt Dezort Good morning. And welcome, everyone, to Needham Tech Week. My name is Matt Dezort, senior security analyst here at Needham. It's my pleasure to welcome next to the virtual stage the management team of Fortinet. We've been joined ...

Fortinet, Inc. (NASDAQ:FTNT) Needham Security, Networking, & Communications Conference November 19, 2024 9:30 AM ET Company Participants Keith Jensen - CFO John Whittle - COO Christiane Ohlgart - Chief Accounting Officer Conference Call Participants Matt Dezort - Needham Matt Dezort Good morning. And welcome, everyone, to Needham Tech Week. My name is Matt Dezort, senior security analyst here at Needham. It's my pleasure to welcome next to the virtual stage the management team of Fortinet. We've been joined ...

The cybersecurity industry is forecast to grow meaningfully over the next several decades.*Stock prices used were the afternoon prices of Nov. 15, 2024. The video was published on Nov. 17, 2024. ...

Earnings Growth and Stock Performance - Fortinet's stock has surged nearly 70% since August 2024, driven by strong quarterly results [1] - The company's Q3 2024 revenue reached $1.51 billion, a 13% YoY increase, surpassing analysts' expectations of $1.48 billion [4] - Non-GAAP earnings per share jumped 54% YoY to $0.63, significantly higher than the guidance of $0.51 [4] - Full-year revenue guidance was raised to $5.89 billion, with non-GAAP earnings expected to reach $2.24 per share, a 37% YoY increase [11] Margin Expansion and Revenue Mix - Non-GAAP operating margin increased from 27.8% to 36.1% YoY, driven by higher services revenue [5] - Services revenue grew 19% YoY to $1.03 billion, while product revenue grew only 1.7% to $474 million [6] - Services business now accounts for 68% of total revenue, up from 65% in the same quarter last year [7] - Services gross margin is 88.5%, compared to 68.4% for the product segment [6] Growth Drivers: SecOps and SASE - Fortinet's AI-focused SecOps offerings grew 32% in billings, accounting for 10.5% of total billings [8] - Demand for AI-driven SecOps is projected to reach $163 billion by 2028, growing at a 13% annual rate [9] - Unified SASE bookings increased 14% YoY, with revenue up 27% [10] - Demand for unified SASE is forecast to grow at a 16% annual rate, reaching $46 billion by 2028 [9] Future Revenue Pipeline - Remaining performance obligations (RPO) increased 15% YoY to $6.1 billion, indicating a stronger future revenue pipeline [10] - Consensus estimates project a 20% annual earnings growth for the next five years, potentially reaching $5.57 per share by 2029 [13] - If the stock trades at 30 times earnings in five years, it could reach $167, representing a 72% increase from current levels [13]

ATLANTA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- John Whittle, Chief Operating Officer at Fortinet "With our new space in Atlanta set to become one of our global Innovation Hubs, we'll be able to better serve our growing customer base in this region as we build on the partnerships created across industries in Georgia over the past 24 years. Through our global Innovation Hubs, Fortinet is committed to enhancing our infrastructure and innovation to continue to deliver unmatched experiences and solutions to customer ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Fortinet (NASDAQ: FTNT ) reported 3Q24 earnings, and the stock dipped 5% in early post-market trading on Thursday as the company cut its full-year billings guidance to $6.43 billion- $6.53 billion, below the prior range of $6.4 billion- $6.6 billion. The market disgusted the bad news quickly, and theI’m a retired Wall Street PM specializing in TMT; my educational background is a bachelor's in Finance and Economics, and an MBA from Columbia, after which I directly began my career on Wall Street. Since kickst ...